J. Sterling Morton HSD 201 J. Sterling Morton HSD 201 FY 19 Budget - - PowerPoint PPT Presentation

• J. Sterling Morton HSD 201

FY 19 Budget 2018-2019

Board of Education Meeting September 12th, 2018

• J. Sterling Morton HSD 201

FY 19 Budget 2018-2019

Board of Education Meeting September 12th, 2018

Prepared by: Ron O’Connor, CSBO CFO/TREASURER

FY19 Tentative Budget Factors Revenues

• Evidence Based Funding
• CPPRT (Corporate Personal Property

Replacement Tax) Repayment

• Grant Allocations
• FY17 Qualified School Construction Bonds

FY19 Tentative Budget Factors Expenditures

• Evidence Based Funding Intentions
• Health insurance renewals
• Final grants expenditures
• Qualified School Construction Bond

expenditures

Typical Sources of Revenues

31% 53% 9% 4% 1% 1%

PROPERTY TAXES STATE FEDERAL CPPRT INTEREST OTHER LOCAL

FY19 31% 53% 10% 4% 1% 1%

NOTE - EXCLUDES: DEBT SERVICE FUND

Financial Factors

State aid:

• Evidence Based Funding

$ 61,610,668

• Note: This is fully funded per the State budget
• Other State Aid

$3,302,169

• Grants, Transportation are included

Financial Factors

• CPI Increase

Will be used for the FY19 Budget 2.1% Average for 4 Years 1.425% Average since Tax Cap Legislation 1993- 2017 2.27%

• Evidence Based Funding is fully funded per current state budget

– How long will this last?

• Decrease in CPPRT Funding has occurred

Budgeted Revenues – Operating

• Education
• Operations & Maintenance
• Transportation
• Working Cash

$83,812,609 $28,400,983 $5,038,389 $80,000

• Total Operating

$117,331,981

Budgeted Revenues – Non-Operating

• Bond & Interest

$12,760,388

• SS/IMRF

$4,312,612

• Total Non-Operating

$17,073,000

FY19 Types of Expenditures

52% 15% 10% 7% 13% 3% 0%

Salaries Employee Benefits Purchased Services Supplies & Materials Capital Outlay Tuition Non-Cap Equipment Other

NOTE - EXCLUDES: TRANSFERS AND ON-BEHALF PAYMENT TO TRS NOTE - EXCLUDES: DEBT SERVICE FUND, BOND MONEY

Expenditures/Factors Summary of Major Expenditures/Factors

• No Shift of Pension Obligation yet to the local Board of Education from

the State of Illinois

• Pension Rate for Employer to stay at 0.58%
• THIS (TRS Health) Employer Rate 0.92% (0.4% increase)
• TRS Federal Grant pension rate 9.85% (0.25% decrease)
• Health Insurance is still to be determined (typically 7% per year)

What does Evidence Based Funding Bring to Morton?

Position Notes Math and Reading Lab 4 FTE Writing Lab 3 FTE Career Lab Counselor/Testing Coordinator 2 FTE Nurse 2 FTE Dean 1 FTE IT Staff 3 FTE Assistant AD Stipend EL Support/Certified Staff 3 FTE Social Worker 3 FTE Lab Technician 3 FTE Assistant LSS Secretary 1 FTE Athletic Coaches 20 FTE Morton East Enhancements Media Center, Classroom Upgrades Morton West Enhancements Media Center, Freshman Center

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Factors Affecting Expenditures

• Salaries and benefits account for close to 67% of budget

(not including Bond expenditures)

• Remaining 33% is spent on supplies and maintenance

and improvements to our schools

• Unpredictable funding stability in Illinois in the next 1-2

years

• Repair and Maintenance of Facilities
• Board commitment to increase enhanced learning
• pportunities for students.

Budgeted Expenditures - Operating

• Education

$82,923,178

• Operations & Maintenance

$24,596,624

• Transportation

$3,933,230 Total Operating $111,453,032

Budgeted Expenditures – Non-Operating

• Capital Projects

$36,477,921

• Health Life Safety

$11,566,518

• Bond & Interest

$11,756,206

• SS/IMRF

$3,495,495 Total Non-Operating $63,296,140

FY19 BUDGET ALL FUNDS – SNAPSHOT

REVENUES EXPENDITURES Education $83,812,609 $82,923,178 Operations & Maintenance $28,400,983 $24,596,624 Transportation $5,038,389 $3,933,230 Working Cash $80,000 $0 Total Operating $117,331,981 $111,453,032 SS/IMRF $4,312,612 $3,495,495 Debt Service $12,760,388 $11,756,206 Health Life Safety $11,566,518 Capital Projects $36,477,921 Total Non-Operating $17,073,000 $63,296,140 Total – All funds $134,404,981 $174,749,172

Qualified School Construction Bond Issuance

FY17 Bond Issuance $41,000,000 $42,000,000 $43,000,000 $44,000,000 $45,000,000 $46,000,000 $47,000,000 $48,000,000 $49,000,000 $50,000,000 $51,000,000 $50,000,000 $44,303,675

Draw Down Schedule, FY 19

Revenues Expenditures

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Financial Challenges

Revenues

• Most Inequitable District in the State
• What is NORMAL for the state budget?
• Rising insurance costs
• CPPRT
• Pension Reforms

Facilities Needs

• Repair, Maintenance

Balanced Budget

The District continues to be fiscally responsible even in these uncertain times at the state and federal level. In

• rder to provide the highest quality to our students, we

must continue to spend for student success. Our

• perational costs are balanced.

Major Initiatives in FY 19

• Morton West Freshman Academy
• Boiler replacement and improvements at Morton East
• Facility study, project maintenance

QUESTIONS?